Convenience-store chain RaceTrac’s subsidiary Metroplex Energy, a fuel supply and trading company, has closed on its acquisition of Gulf Oil LLC. The deal, first announced in July, is the largest acquisition in Atlanta-based retailer’s history.
As part of the transaction, RaceTrac acquires Gulf’s brand in the United States and Puerto Rico, all Gulf-branded distributor and license agreements comprising of about 1,100 branded sites and exclusive rights to market fuel at 11 Massachusetts Turnpike service plaza locations, according to RaceTrac.
- RaceTrac is No. 15 on CSP’s 2023 Top 202 ranking of convenience store chains by store count.
“Customers, distributors and licensees have looked to the Gulf brand for quality and dependability for over 100 years and we are excited to announce its addition to the RaceTrac family,” said RaceTrac CEO Max McBrayer. “The timeliness of this transaction represents an immediate opportunity for growth through geographic expansion, scale and diversification. We have been working closely with the Gulf team and are prepared to steward the Gulf legacy in its second century.”
The acquisition provides Gulf with an opportunity to succeed in the rapidly evolving retail fuel marketplace, AJ Siccardi, president of Metroplex, said.
“Gulf’s extensive distributor network and nationally recognized brand, combined with Metroplex’s expertise in providing consistent, dependable fuel supply, creates tremendous possibilities to serve current and future branded distributors and licensees in a manner that will make their businesses successful in the future,” he said.
Metroplex has appointed Ron Sabia as chief operating officer of the acquired Gulf entity and head of the Gulf business unit to provide a seamless transition to current Gulf customers, RaceTrac said. After more than 30 years in the fuel industry, Sabia was president of Gulf Oil LP from 2005 to 2016.
The deal reflects RaceTrac’s ongoing strategy to accelerate growth in its core business activities and drive enhanced operating efficiencies, the company said. The combination of Metroplex Energy and Gulf Oil creates a best-in-class fuel network with a leading presence in high-demand markets across the county, RaceTrac said.
Current RaceTrac locations will not be affected by the deal. Financial terms of the deal were not disclosed.
Gulf Oil, Wellesley, Massachusetts, has more than 120 years of dedicated service, fuel supply, retail programs and loyalty offerings to its customers.
RaceTrac has more than 570 locations in Alabama, Georgia, Florida, Kentucky, Louisiana, Mississippi, Texas and Tennessee. The company’s history dates back to 1934, according to its website.
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